The Esterson MHC Team of Marcus & Millichap is excited to present this value-add and cash-flowing investment opportunity to acquire a portfolio of 7 manufactured housing communities (MHCs) strategically located across Pittsburgh, Pennsylvania.

This extensive portfolio consists of 527 Units with a 61% occupancy rate. The portfolio has 512 MH lots, 12 RV lots and 3 SFH’s. There are currently 321 tenants. Also included are 49 park-owned homes (POH), 31 rent to own homes (RTO) and 177 vacant lots. This can be purchased as a 7-park portfolio, or a buyer can purchase either the 3 northern parks or the 4 southern parks. Individual parks are not being offered for sale.

• Geographic Focus: The communities are all located in the Pittsburgh, PA area, providing focus in a stable and growing market.

• Significant Scale: The portfolio’s 527 sites offer notable scale, enabling economies of scale in management and operations, enhancing the overall investment’s stability and potential for growth.

• Strong Upside in Occupancy Rate: With a 61% occupancy rate, the communities are well-established with a solid resident base, ensuring immediate and steady rental income. There is also room for increasing rents and occupancy, presenting a value-add opportunity.

• Limited Park-Owned Homes: Only 49 homes are park-owned. This reduces maintenance responsibilities and costs associated with owning and managing homes. It also allows for potential conversion to tenant-owned homes, further increasing cash flow and decreasing operational expenses.

This portfolio offers a compelling opportunity to invest in a focused, scalable, and income-generating asset class. With immediate cash flow, value-add potential, and geographic focus, this investment aligns well with strategies aimed at long-term growth and income stability in the affordable housing market.

This portfolio is priced at $20,000,000, including all park-owned homes, and presents a value-add opportunity for investors looking to acquire a cash-flowing asset with further upside potential. Both conventional recourse, non-recourse and bridge lending options are available. Interested parties are encouraged to submit their offers with price, timeline, escrow amount, and a list of due diligence requirements. All offers must include price, inspection timelines, appropriate terms, proof of funds, a list of due diligence required from owners, and relevant real estate experience.